We are purchasing a brand new duplex in Durrington and my lawyer is informing me that she has to the bank to disclose incentives from the builder. I am under pressure to exchange contracts and I would rather not prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We are planning to purchase with Loughborough BS. I visited 3 or 4 high street solicitors but am struggling to find a Durrington conveyancing firm on the Loughborough BS approved list. Could you help?
Feel free to make use of the search tool on this web page. Pick the lender and type Durrington or your preferred area and you will be presented with numerous solicitors based in Durrington or nearest you.
I have been on the look out for a leasehold apartment up to £235,500 and identified one round the corner in Durrington I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Durrington in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Are there any apps to assist me to locate a Durrington solicitor on the Godiva Mortgages Ltd conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the solicitor.
You can use the tool on this website. Please choose the mortgage company and your location and you will see a number of Durrington conveyancing lawyers based on proximity. We have listed some Durrington conveyancing firms at the bottom of this page and you can call them to see if they are on the Godiva Mortgages Ltd member panel
My husband and I are FTB’s - agreed a price, but the agent informed us that the seller will only proceed if we use their preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Durrington
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', turning down a genuine buyer is likely to cause more damage than good. Avoid the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Durrington conveyancing lawyers - not the ones that will provide their negotiator at the agency a commission or achieve conveyancing thresholds demanded by senior management.
I only have Seventy years left on my flat in Durrington. I need to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the landlord. On the whole a specialist should be useful to try and locate and to produce an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Durrington.
Durrington Leasehold Conveyancing - Examples of Queries before buying
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How many years remain on the lease? How much is the annual service fee and ground rent? Please note if it is fewer than eighty years it will affect the value of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out what this would cost. For most Durringtonlease extensions you would need to own the residence for a couple of years before you are legally able to exercise a lease extension.